Sumitomo Mitsui DS Asset Management Company Ltd Boosts Holdings in Kimco Realty Corp (NYSE:KIM)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Kimco Realty Corp (NYSE:KIM) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,654 shares of the real estate investment trust’s stock after purchasing an additional 10,917 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Kimco Realty were worth $3,445,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KIM. Exchange Traded Concepts LLC raised its holdings in shares of Kimco Realty by 240.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 28,184 shares of the real estate investment trust’s stock worth $496,000 after acquiring an additional 19,908 shares in the last quarter. Czech National Bank increased its position in shares of Kimco Realty by 47.6% during the 3rd quarter. Czech National Bank now owns 108,342 shares of the real estate investment trust’s stock valued at $1,906,000 after purchasing an additional 34,960 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Kimco Realty by 16.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 273,574 shares of the real estate investment trust’s stock valued at $4,812,000 after purchasing an additional 38,500 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Kimco Realty by 6.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 874,061 shares of the real estate investment trust’s stock valued at $15,375,000 after purchasing an additional 55,450 shares during the last quarter. Finally, Xponance Inc. increased its position in shares of Kimco Realty by 9.3% during the 3rd quarter. Xponance Inc. now owns 92,300 shares of the real estate investment trust’s stock valued at $1,624,000 after purchasing an additional 7,855 shares during the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Price Performance

Shares of KIM stock opened at $18.64 on Wednesday. Kimco Realty Corp has a 1-year low of $16.34 and a 1-year high of $22.83. The stock’s 50-day moving average is $19.06 and its 200 day moving average is $19.38. The company has a market cap of $12.56 billion, a P/E ratio of 18.27, a PEG ratio of 4.19 and a beta of 1.45. The company has a debt-to-equity ratio of 0.79, a current ratio of 5.05 and a quick ratio of 5.05.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend was Wednesday, March 6th. Kimco Realty’s payout ratio is currently 94.12%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Mizuho cut their target price on Kimco Realty from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on Kimco Realty in a research note on Tuesday, January 30th. They issued a “hold” rating and a $23.00 target price on the stock. Citigroup reiterated a “neutral” rating and issued a $20.00 target price (down previously from $26.00) on shares of Kimco Realty in a research note on Friday, March 22nd. Robert W. Baird cut their price target on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, April 4th. Finally, Bank of America restated a “neutral” rating and set a $20.00 price target (down previously from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Kimco Realty has an average rating of “Hold” and a consensus target price of $21.67.

Insider Activity at Kimco Realty

In other Kimco Realty news, Director Frank Lourenso sold 8,890 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $19.42, for a total value of $172,643.80. Following the completion of the sale, the director now owns 203,534 shares of the company’s stock, valued at $3,952,630.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by corporate insiders.

About Kimco Realty

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.